KATHMANDU, NEPAL, December 24, 2012 (Himalayan Times): Pashupati Area Development Trust (PADT) has plans to open a bank for its development and it is targeting Hindu communities to develop the temple heritage site. The council meeting, chaired by Culture Minister Post Bahadur Bogati yesterday approved the nearly Nepalese Rs. 500 million budget (US$5.7 million) and programs for the current fiscal.

"The program includes opening a bank for development of Pashupatinath Temple," said Narottam Vaidya, treasurer at PADT. "A preliminary study will be carried out within the current fiscal year," he added.

The Guthi Corporation, PADT, big houses and Hindu communities and people will be involved in opening the bank, according to PADT sources. "The income from Pashupatinath Temple, Pashupati Guthi and PADT resources will be the main sources for the establishment of the bank," said PADT officials. "Certain shares will be distributed to only Hindu devotees and communities in order to open the bank," they said.

The PADT earns about Rs. 10 million (US$115,000) from offerings donated by devotees every month. "The temple income will be properly used in developing the heritage site and renovating the temple," said Vaidya.

The pagoda style temple, believed to be more than 2,500 years old, is listed in the UNESCO World Heritage Site. However, the temple has not been renovated since the 17th century.

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